Brett Adcock, co-founder of Archer Aviation, is stepping down from his role as co-CEO of the company, leaving Adam Goldstein as the sole CEO of Archer.
The company said this decision was made to “help simplify its operating structure,” as Archer continues on its path to test, certify, and commercialize its five-seat eVTOL aircraft.
“Co-founding and leading Archer was one of the greatest experiences of my life, and I am so proud of the incredible Archer team and their many accomplishments,” Adcock said in a press release.
Adcock will remain as one of the company’s board of directors, stating that he is “fully committed to the success of Archer.”
The former co-CEO would not provide further comments on his departure or what his next venture might be, but told followers on social media that he has “been a passionate entrepreneur for most of my career … I will have much more to share on my future plans in the next few months.”
Adcock and Goldstein co-founded Archer in 2018, emerging from stealth in 2020 with an eVTOL concept that the two planned to get type certified by U.S. aviation authorities in 2024 for aerial ridesharing services.
Before co-founding Archer, Adcock and Goldstein co-founded a software company called Vettery, which was later acquired by The Adecco Group in 2018. Both Adcock and Goldstein have a history in working at several investment firms.
Adcock’s surprise departure comes before the company’s plan to achieve its first full transition flight with its Maker eVTOL prototype later this year, and unveil its first full-scale production-conforming aircraft next year.
He’s also stepping down from his role while Archer is in the midst of a legal battle with rival Wisk Aero which alleges misappropriation of trade secrets and patent infringements — a claim that Archer continues to deny. The case is scheduled to go to trial early next year.
Steps down or was forced out? Their press release says “the company took this step.”